Iraqi Oil Minister Ihsan Ismaael has set an April deadline to resolve a long-running legal action against Turkey for enabling Kurdistan’s independent oil exports — either through a negotiated deal or a ruling from a Paris arbitration panel.
According to members of Parliament briefed by Ismaael, the minister said Iraq has asked the International Chamber of Commerce's International Court of Arbitration for $26 billion in damages, based on allegations that Turkey has violated the Iraq-Turkey Pipeline (ITP) treaty by facilitating crude exports from the semi-autonomous Kurdistan Regional Government (KRG), in defiance of Baghdad’s objections.
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